This trend line fits better than the linear one. This suggests an interesting relationship: the relationship between the freedom to trade and individual wealth is exponentially positive. In other words, the more free the people of a nation is to trade, the faster and faster their wealth grows! The implication of this is even marginal tariffs could have a substantial effect on economic activity and wealth.

Other than putting together the graph, I haven’t played around with the data too much, something which I aim to remedy in the near future. But, at a first look, this suggests a strong positive relationship between trade and economic well-being, and certainly hurts the case that trade, as Trump has put it, is “beating us to a pulp.”